Sports Betting In NJ More Than Tripled In 2019

Published: 16th January 2020
Author: Joe Kizlauskas
Last Updated: 16th January 2020

New Jersey’s sports betting companies closed 2019 with a bang, more than tripling their previous year’s annual revenues.

Figures released Tuesday by Gaming Enforcement’s New Jersey Division show that the state’s licenced online and land-based sports betting operators reported combined revenue of $29.42 m in December, up 41.4 percent from last year’s same month but down $3.5 m from the November 2019 estimate.

The betting handle for December came in at $557.8m, slightly below a record of high $562.7m for November. But the share of December’s handle for digital wagering came in at $488.93m, an 87.6 percent share, up around one point from the November share and a new market-high.

The Meadowlands Racetrack / FanDuel duo again won top betting profit honours with $14.5m in December, down slightly from November but 59.3 percent higher than last year’s same month. Everything but $2.42m of that amount was received across digital channels.

Resorts Digital Gaming and its DraftKings/FoxBet partners ranked second with $9.33 m in December, while the land-based sportsbook of the associated Resorts Casino Hotel had a shockingly bad month, recording a net loss of more than $406k.

The Monmouth Park racetrack ($2.56m) narrowly edged out gaming operations at the Borgata casino ($2.27m), while Ocean Casino Resort was the only other player with $1.16m in seven-figure territory.

In December, none of the other operators (Bally’s, Golden Nugget, Tropicana) managed to net more than $200k while the Hard Rock Atlantic City (-$345k) and Harrah’s (-$107k) joined Resorts in the net loss community.

Betting handle totaled $4.58b for 2019 as a whole, an increase of 367 percent over the total sum wagered in 2018. Digital’s share of the betting handle for 2019 fell to 83.7 percent, a significant increase from the digital share of 62.5 percent in 2018. In 2019, betting sales hit $299.4 m, more than $94m a triple in 2018.

The Meadowlands / FanDuel reported just over half of the betting income in 2019 ($149.9m), while the runner-up Resorts Digital was well behind at $79.6m and Monmouth Park ranked third at $25.9m.

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About Joe Kizlauskas

Joe is a seasoned iGaming copywriter and speaker who has been in the business since 2015. He's written more words on all elements of iGaming than he likes to remember, and he's contributed material to a number of well-known brands. Joe may be seen playing 5 a side, at the gym or playing games on his Playstation when he is not writing.